Bitcoin is due to hit nearly $150,000 during its next four-year halving cycle, Pantera Capital believes. In its latest “Blockchain Letter,” released on Aug. 22, executives at the crypto asset manager doubled down on their bullish BTC price forecasts for 2024 and beyond.
“The 2016 halving decreased the supply of new bitcoins only one-third as much as the first. Interestingly, it had exactly one-third the price impact. The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on price,” Pantera stated.
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Bitcoin bulls can expect 4.2x gains- Pantera is far from alone in predicting six-figure BTC price highs beyond next year. Among the optimistic forecasts include those based on Bitcoin’s so-called “Lowest Price Forward” metric, which this month showed BTC/USD passing the $100,000 mark by 2026. Others also believe that $100,000 is possible, but not before next year’s halving.
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Shut up
Let’s break $30k and $60k again first.
Why not 390k? 🤔